Half-year Report

About this update from Secure Property Development & Investment Plc

[{"type":"text","content":"\n \n \n \n RNS Number : 4234N\n Secure Property Dev & Inv PLC\n 30 September 2021\n  \n \n \n \n Secure Property Development & Investment PLC/ Index: AIM / Epic: SPDI / Sector: Real Estate\n \n \n  \n \n \n 30 September 2021\n \n \n  \n \n \n Secure Property Development & Investment PLC ('SPDI' or 'the Company')\n \n \n  \n \n \n Half Year Report\n \n \n  \n \n \n Secure Property Development & Investment PLC, the AIM quoted South Eastern European focused property company, is pleased to announce its unaudited half year report for the period to 30 June 2021.\n \n \n  \n \n \n Financial Overview\n \n \n o  \n Net income from continuing operations increased by 64% during H1 2021 to \n €657,443 (H1 2020: €399,986) due to increased management services to third parties \n \n \n o  \n EBITDA of \n €145,928 (H1 2020: loss of €264,101) from continuing operations \n \n \n o  \n EBITDA from total operations increased to \n €501,194 (H1 2020: €196,915)\n \n \n o  \n Pre-tax profit of \n €287,631 (H1 2020: loss of €369,014)\n \n \n  \n \n \n Corporate Overview\n \n \n The Company maintains its strategy to maximise value for shareholders through continued discussions with Arcona on the contribution of SDPI's property portfolio\n \n \n  \n \n \n Significant asset backing behind the Company:\n \n \n o  \n NAV per share stood at 15.7p a share as at 30 June 2021 - more than 125% higher than the current share price\n \n \n o  \n Discussions continue with the Arcona Property Fund N.V (Arcona) in relation to the conditional agreement for the contribution  of the Group's properties - Stage 2 agreements signed in June 2021, with closing still expected to take place in H2 2021\n \n \n  \n \n \n \n Lambros G. Anagnostopoulos, Chief Executive Officer, said\n \n , \n \n \n \"When set against a recovering market, impacted by the effects of COVID-19, we are delighted to report a strong improvement in our trading performance. The group continues to own and manage a valuable property portfolio in South Eastern Europe which is predominantly let to blue chip tenants on long and recently renewed leases.\n \n \n \"With all our income generating properties now based in Romania we are pleased to see a continued growing economy in the country. Despite the recent uptick, w...

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